Job Order Cost System

question 57

Essay

Job order cost system
Continental Company uses a job order cost accounting system.During March,three jobs were completed and the costs were computed as follows: job no.1,$89,000;job no.2,$58,800;job no.3,$54,000.As of March 31,the following amounts had been charged to the Work in Process Inventory controlling account in the general ledger:
(a)Prepare the general journal entry to reflect the jobs completed during March: (b)Compute the cost of the unfinished jobs at March 31.$________

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